Bombardier Inc. lost its position as the global business jet leader in 2013 for the first time in nearly a decade as Gulfstream Aerospace Corp.’s billings were $1-billion (U.S.) more than its Canadian rival, the General Aviation Manufacturers Association said Wednesday.

Montreal-based Bombardier said it had anticipated that Gulfstream’s new G650 would have an impact on the global ranking, but that it aims to regain the edge it had held since 2005.

“We still hope that the top spot is within reach in the short- and medium-term future,” spokeswoman Annie Cossette said Wednesday.

The GAMA report is the latest bad news for Bombardier, which reported weak financial results that caused its shares to plummet after it reduced its profit target for 2014.

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